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COGNITRONICS TO CONSOLIDATE OPERATIONS IN NEW DANBURY HEADQUARTERS BUILDING

 STAMFORD, Conn., May 3 /PRNewswire/ -- In a move designed to consolidate its facilities and lower its costs, Cognitronics Corporation (AMEX: CGN) said today that it has signed a 10-year lease for a 40,000-square-foot building in Commerce Park in Danbury, Conn.
 The two-story facility, now undergoing extensive renovation by the owners, will become the new Cognitronics headquarters, which has been located in Stamford for the past 21 years.
 About 70 Cognitronics employees are expected to move to the new company facility from existing facilities in Stamford and Danbury, and Upper Saddle River, N.J. The company said it expected to move by Oct. 31, 1993.
 "This move will consolidate in one location the production, engineering, service and office staff requirements for our voice processing products and services, the company's core business that last year grew by 27 percent," according to Matthew J. Flanigan, president and chief executive officer. "This consolidation will create greater operational efficiencies for us as our voice processing business continues to expand."
 The building is owned jointly by Seymour R. Powers and The Danbury Industrial Corporation. Cushman and Wakefield was the broker for the transaction.
 Stamford Tool & Die Inc., a subsidiary of Cognitronics, will not be affected by the move, according to the company, because Stamford Tool is being sold to Lanxide Corporation of Newark, Delaware.
 Cognitronics is a leading manufacturer and supplier of voice processing equipment, including telephone network and call management announcement products and interactive voice response (IVR) systems, to telephone operating companies, original equipment manufacturers and commercial end-users.
 -0- 5/3/93
 /CONTACT: Harold F. Mayer of Cognitronics Corporation, 203-327-5307/
 (CGN)


CO: Cognitronics Corporation ST: Connecticut IN: TLS SU:

TS -- NY058 -- 3764 05/03/93 11:52 EDT
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Publication:PR Newswire
Date:May 3, 1993
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